The ACT Planning and Land Authority has just signed off on the proposal lodged by the Walker Corporation in February.

As previously reported Veterans Park will remain in its current location and connect to the new buildings.

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One of the key features of the development is a glazed walkway which will direct pedestrian activity into the retail and cafe amenities and provide a link between the buildings, Veterans Park and the future light rail link.

Walker Corporation executive chairman Lang Walker said demolition would start as soon as a tenant was secured for the site and completion was projected for 2017-18.

The development has been targeted at the government and corporate sector.

“Northbourne Square is an important development for Canberra; it will shape the city’s skyline and welcome in a new era for Canberra,” Mr Walker said.

The redevelopment of the Myuna Complex has been flagged for about five years under a proposal by previous site owner Stockland.

It was originally going to be two office and retail towers of nine and 12 storeys costing upwards of $200 million.

Stockland shelved the approved plans following a dispute with the ACT government over the controversial change-of-use charge and sold the land to the Walker Corporation in 2011.

Walker's approved proposal allows for 59,000 square metres of commercial office and retail space as well as a Civic square, and will have three basement levels of car spaces, motorcycle spaces and bicycle spaces.

Architects peckvonhartel have designed the building as a “future focused” defining element at the entrance to the city which will enliven the area and create a destination for work and recreation.

The facade design of the building features extensive glazing to allow maximum connectivity and transparency to the outside.

The accommodation has been designed to attract government and corporate clients and will include work, social and leisure hubs.

Mr Walker said based on the success of previous projects in the ACT the company had committed to a large project in the heart of Civic.

Walker Corporation delivered the headquarters for DEEWR on Marcus Clarke Street in 2009 and has built the industrial subdivision Monaro Industrial Park in Hume.

ACT Planning and Land Authority’s notice of decision for the development application mentions that Capital Metro needs to endorse the project as having compatible facilities with the rail line and not impacting on the project.